Senate Bill 967 (Public Act 15-48) signed by the governor June 5 and effective October 1 allows LLC or LP reinstatement after administrative dissolution or cancellation for failure to maintain a registered agent or file annual reports to relate back to the effective date of the dissolution and amends the business corporation act with respect to qualifications for directors, advancement of expenses to officers, employees and agents, and time limits for voting trusts and shareholder agreements.
September 14, 2015